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S&P downgrades Frontier Corp.
Standard & Poor's downgraded Frontier Corp., including lowering its $100 million 9% debentures due 2021, its $300 million 7.25% notes due 2004 and its $200 million 6% Dealer Remarketable Securities due 2003 to C from CCC; and its $6 million 5% cumulative preferred stock to C from CCC-. All ratings remain on CreditWatch with negative implications.
S&P downgrades Atlantic Telecom
Standard & Poor's downgraded Atlantic Telecom Group PLC, including lowering its €200 million 13% notes due 2010 and its £75 million 13.25% notes due 2010 to D from C.
S&P downgrades American Commercial Lines
Standard & Poor's downgraded American Commercial Lines LLC, including lowering its $300 million 10.25% senior notes due 2008 to D from B-, its $535 million bank facility to B+ from BB- and ACL Capital Corp.'s $300 million 10.25% senior notes due 2008 to D from B-. The bank facility remains on CreditWatch with negative implications.
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